Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Target Corporation $TGT

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Target Corporation (NYSE:TGT) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 926,052 shares of the retailer’s stock after purchasing an additional 68,149 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Target worth $91,355,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Target by 407.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,970,414 shares of the retailer’s stock worth $1,666,672,000 after buying an additional 12,825,586 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Target during the second quarter valued at approximately $595,839,000. Pacer Advisors Inc. raised its holdings in Target by 1,364.3% in the 1st quarter. Pacer Advisors Inc. now owns 3,289,692 shares of the retailer’s stock worth $343,312,000 after acquiring an additional 3,065,035 shares during the last quarter. Nuveen LLC bought a new position in Target in the 1st quarter valued at approximately $186,361,000. Finally, Goldman Sachs Group Inc. lifted its position in Target by 35.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,370,062 shares of the retailer’s stock valued at $560,420,000 after acquiring an additional 1,406,653 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Target Stock Performance

NYSE:TGT opened at $91.22 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.32 and a current ratio of 0.99. The stock has a 50-day simple moving average of $90.77 and a two-hundred day simple moving average of $96.39. The firm has a market capitalization of $41.45 billion, a PE ratio of 10.63, a P/E/G ratio of 2.74 and a beta of 1.19. Target Corporation has a 52-week low of $85.36 and a 52-week high of $158.42.

Target (NYSE:TGT) last posted its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.04 by $0.01. The firm had revenue of $24.99 billion for the quarter, compared to the consensus estimate of $24.84 billion. Target had a return on equity of 23.43% and a net margin of 3.72%.The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Analysts forecast that Target Corporation will post 8.69 EPS for the current year.

Target Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $1.14 per share. This is an increase from Target’s previous quarterly dividend of $1.12. This represents a $4.56 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, November 12th. Target’s payout ratio is presently 53.15%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Citigroup lifted their target price on Target from $94.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, August 22nd. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Target in a report on Monday, October 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $110.00 target price on shares of Target in a research report on Wednesday, August 20th. Zacks Research downgraded shares of Target from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 4th. Finally, Evercore ISI reduced their price target on shares of Target from $103.00 to $100.00 and set an “in-line” rating for the company in a research note on Tuesday, October 14th. Nine equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $109.00.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.